Mr. Alberto Arias reports

LARGO ANNOUNCES SENIOR LEADERSHIP TRANSITION WITH APPOINTMENT OF JAMES BANNANTINE AS CO-CEO BRINGING EXPERIENCE IN MINING TURNAROUNDS, ENERGY AND U.S. GOVERNMENT RELATIONSHIPS

Largo Inc. has appointed James Bannantine as co-chief executive officer and Daniel Tellechea has retired. Mr. Tellechea will continue to serve as an adviser and board member. Mr. Bannantine will serve as co-chief executive officer alongside executive chairman and co-CEO Mr. Alberto Arias. All amounts expressed are in United States dollars.

James (Jim) Bannantine has served as CEO of multiple mining companies with operations in Latin America, and recently led the development and sale of the Los Calatos copper-molybdenum project in southern Peru. Mr. Bannantine previously served as CEO of Aura Minerals and Great Panther Mining, both Toronto Stock Exchange companies with multiple operating open pit mines in Brazil. Prior to his involvement in the mining sector, he was the South American divisional CEO for the integrated regional gas and power operations of a large energy and commodities company. Early in his career, Mr. Bannantine was a contracting officer for the U.S. Army Corps of Engineers. He has led turnarounds in multiple companies and multiple industries. He is a licensed professional engineer, a graduate of West Point and the Wharton School of Business, a former Army officer having served the U.S. in Central America, and is fluent in Portuguese and Spanish.

Mr. Arias, executive chairman and co-CEO of Largo, commented: "We are thrilled to welcome Jim as our new co-CEO of Largo Inc. His extensive experience makes him uniquely qualified across multiple critical areas of expertise important for Largo, such as open pit mining operational turnarounds in Latin America, energy sector leadership experience, work for the U.S. Department of Defense as an engineer and contracting officer, and operating experience in both the mining and energy sectors in Brazil, where he lived for several years." Mr. Arias added: "We are confident that Jim's experience will help to further enhance operational efficiency, support capital discipline to advance strategic growth and value creation projects, and foster a culture of accountability."

Mr. Bannantine added: "I am very excited to be joining Largo at this point in time. I am looking forward to the challenge of completing Largo's turnaround and executing on its many upsides, including its high-purity vanadium business with the U.S. Defense Logistics Agency and the aerospace and defence sectors generally, its recent project to produce copper and precious group metals as byproducts of its vanadium operations, and the sales to and investment in the vanadium flow battery sector through its joint venture Storion Energy in the U.S. and Largo Physical Vanadium. I believe Largo is well positioned in each of these areas."

Mr. Bannantine assumes the co-CEO role from Mr. Tellechea, who is retiring from the co-CEO role, but who will stay on as a company adviser for a period of time and remain a member of Largo's board of directors.

Mr. Arias commented: "I would like to thank and recognize Daniel for his critical contributions to Largo as CEO for the last three years. His decades of experience in the mining industry have been invaluable to Largo as the company implemented several operational efficiency improvements and cost reduction programs to manage a severe cyclical decline in vanadium prices. His senior leadership and encouragement have carried the Largo team through a very important time in its history."

About Largo Inc.

Largo is the world's largest primary vanadium producer and a globally recognized supplier of high-quality vanadium products, sourced from its world-class Maracas Menchen mine in Brazil. As one of the world's largest primary vanadium producers, Largo produces critical materials that empower global industries, including steel, aerospace, defence, chemical and energy storage sectors. The company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers.

Largo is also strategically invested in the clean energy storage sector through its 37.4-per-cent ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the U.S.

The company also holds a 100-per-cent interest in the Northern Dancer tungsten-molybdenum property located in the Yukon Territory, Canada, and 100-per-cent interest in the Currais Novos tungsten tailing project near Natal, Brazil. Preliminary economic assessments were completed for each asset in 2011.

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